Genel Energy signs deal with OPIC Somaliland Corporation (OSC) involving Taiwanese investment to drill oil well by 2023

[Wir]

FgS nEeDs tO iNvEsT iN nAvY.....tO enForCe bLocKadE

They're beg youts. They cried like this when Somaliland & DP entered the port deal. Anytime a faqash cries you know Somaliland is winning mate. Let's enjoy their tears while we dig this oil

 

[Wir]

FGS can't even fund a hospital yet you are here talking about a navy?

Genel Energy was in Somaliland before the paper government of FGS was born

The CPC Corporation is a Taiwan state owned company with a revenue over $30BN in 2019.The initial test drilling will 100% happen as the capital to mitigate the risk is available now.

Taiwan has the data from Genel surveys in 2019. The billion barrels in this one block that the survey showed will make a domino effect of drilling in our other blocks. The salty somalians in this thread will be your butler and labourer in a few years

 

[codewebsduh]

Taiwan has the data from Genel surveys in 2019. The billion barrels in this one block that the survey showed will make a domino effect of drilling in our other blocks. The salty somalians in this thread will be your butler and labourer in a few years

We'll see , if Taiwan actually hits oil it will take years for an oil field to be opened.

 

[Yuusuf the great]

Bro they don’t need to do anything but read. Difference between SL and FSG is that , FSG actually has competent , skilled , experienced professionals in international law and in all the fields concerning issues like this. And proven track records. I’m not a centralist and certainly not pro Mogadishu. Just felt the need to educate you yellow teethed khat munching wannabe holocaust niggas

So why those "experienced professionals" help their shithole Somalia.

 

[Wir]

This was in the works for over a year

 

[Kanan]

Even if they struck oil it will take a decade or more to extract it. That is, if SFG even entrained the idea.

 

[Yuusuf the great]

Even if they struck oil it will take a decade or more to extract it. That is, if SFG even entrained the idea.

It will take less than 2 years if all sides are committed. This SFG / TFG or what ever G it is has no leverage over Somaliland. The fact that Taiwan is involved and genel is mainly based in Iraqi Kurdistan , shows you that Somaliland is well prepared to run its show. I am gonna buy it's stock now because it Will raise more than double .

 

[ZodiaK]

There are basically three phases of oil production:

Pre-drilling activities (upstream)
Drilling (upstream)
Production (midstream and downstream)

Depending on the depth of drilling required and the type of drilling method used, a standard oil well can commonly advance from drilling to the beginning of production for an oil company within one to three months. However, drilling to production is only the last phase of work for an oil producer. The preceding steps take a substantially longer time period and involve major capital expenditures.

The longest and typically most expensive phase is pre-drilling activities – all the things that an oil producer must do before even thinking about doing the actual well drilling. They include doing the necessary seismological surveys to locate a promising drilling site, obtaining land and sometimes separate mineral rights, getting required permits and regulatory approvals, creating infrastructure.

SL & Genel timeline

In August 2012, Genel was awarded an exploration licence for onshore blocks SL-10-B and SL-13 in Somaliland.

Interpretation of the 2018 2D seismic data together with continued basin analysis has led to the maturation of prospects and leads inventory for the SL10B13 block

Once these prospects and leads have been quantified in terms of volumetric potential and associated geological risk the Company will initiate a farm-out campaign, commencing late Q3 2019.

In December 2021 Genel announced the signing of a farm-out agreement relating to the SL10B13 block with OPIC Somaliland Corporation (‘OSC’), with all its share of future capital investment coming from CPC Corporation, Taiwan, the state-owned enterprise of Taiwan.

The field partners will now work together to plan exploration drilling in this block, with an aim of drilling a well in 2023. It is currently estimated that a well can be drilled for a gross cost of c.$40 million.

Enter CPC

Over the past 40 years, CPC has participated in global exploration as well as mergers and acquisitions. In recent years, it has achieved brilliant accomplishments in Africa, Australia, South America, and Southeast Asia, all of which increased Taiwan’s ability to maintain national energy security.

CPC Corp signs a deal to explore oil area in Somaliland - Taipei Times

Bringing Taiwan to the World and the World to Taiwan

www.taipeitimes.com

The state-run refiner declined to disclose financial terms, but CPC spokesman Chang Ray-chung said that this is the biggest oilfield exploration deal it has been part of in terms of prospective resources.

Sidenote

CPC Corporation was a historic buyer of Iranian oil and received a sanctions waiver from the United States when they imposed sanctions on Iranian oil imports. Despite receiving a sanctions waver CPC Corporation chose to end its use of Iran as a source country.

 

[codewebsduh]

There are basically three phases of oil production:

Pre-drilling activities (upstream)
Drilling (upstream)
Production (midstream and downstream)

Depending on the depth of drilling required and the type of drilling method used, a standard oil well can commonly advance from drilling to the beginning of production for an oil company within one to three months. However, drilling to production is only the last phase of work for an oil producer. The preceding steps take a substantially longer time period and involve major capital expenditures.

The longest and typically most expensive phase is pre-drilling activities – all the things that an oil producer must do before even thinking about doing the actual well drilling. They include doing the necessary seismological surveys to locate a promising drilling site, obtaining land and sometimes separate mineral rights, getting required permits and regulatory approvals, creating infrastructure.

SL & Genel timeline

In August 2012, Genel was awarded an exploration licence for onshore blocks SL-10-B and SL-13 in Somaliland.

Interpretation of the 2018 2D seismic data together with continued basin analysis has led to the maturation of prospects and leads inventory for the SL10B13 block

Once these prospects and leads have been quantified in terms of volumetric potential and associated geological risk the Company will initiate a farm-out campaign, commencing late Q3 2019.

In December 2021 Genel announced the signing of a farm-out agreement relating to the SL10B13 block with OPIC Somaliland Corporation (‘OSC’), with all its share of future capital investment coming from CPC Corporation, Taiwan, the state-owned enterprise of Taiwan.

The field partners will now work together to plan exploration drilling in this block, with an aim of drilling a well in 2023. It is currently estimated that a well can be drilled for a gross cost of c.$40 million.

Enter CPC

Over the past 40 years, CPC has participated in global exploration as well as mergers and acquisitions. In recent years, it has achieved brilliant accomplishments in Africa, Australia, South America, and Southeast Asia, all of which increased Taiwan’s ability to maintain national energy security.

CPC Corp signs a deal to explore oil area in Somaliland - Taipei Times

Bringing Taiwan to the World and the World to Taiwan

www.taipeitimes.com

The state-run refiner declined to disclose financial terms, but CPC spokesman Chang Ray-chung said that this is the biggest oilfield exploration deal it has been part of in terms of prospective resources.

Sidenote

CPC Corporation was a historic buyer of Iranian oil and received a sanctions waiver from the United States when they imposed sanctions on Iranian oil imports. Despite receiving a sanctions waver CPC Corporation chose to end its use of Iran as a source country.

Very interesting, would be a game changer in Somali politics if SL hits oil production.

 

[Kanan]

It will take less than 2 years if all sides are committed. This SFG / TFG or what ever G it is has no leverage over Somaliland. The fact that Taiwan is involved and genel is mainly based in Iraqi Kurdistan , shows you that Somaliland is well prepared to run its show. I am gonna buy it's stock now because it Will raise more than double .

Lol Kurdistan gets a cut of the oil from Bagdad. Even you beloved example needed the approval of the central government of Iraq, regardless of how weak, corrupt and unpopular it is.


Oil production is capital intense project. It needs hundred of millions if not billions to drill, install, platforms, equipment, rigs، pipelines.


No company will risk it without approval of SFG.

 

[Yuusuf the great]

Lol Kurdistan gets a cut of the oil from Bagdad. Even you beloved example needed the approval of the central government of Iraq, regardless of how weak, corrupt and unpopular it is.


Oil production is capital intense project. It needs hundred of millions if not billions to drill, install, platforms, equipment, rigs، pipelines.


No company will risk it without approval of SFG.

Iraqi Kurdistan receives budget from baqdad , so it's Oki to share a percentage of it's revenue. Unlike Somaliland Iraqi Kurdistan considers itself as part of iraq . Somaliland share nothing with Somalia. TFG have zero leverage over Somaliland , especially if Taiwan is the main recipient of Somaliland oil. Genel came to Somaliland before the existence of Mogadishu administration and it has zero contacts with xamar .

 

[Wir]

Lol Kurdistan gets a cut of the oil from Bagdad. Even you beloved example needed the approval of the central government of Iraq, regardless of how weak, corrupt and unpopular it is.


Oil production is capital intense project. It needs hundred of millions if not billions to drill, install, platforms, equipment, rigs، pipelines.


No company will risk it without approval of SFG.

The same thing was said about berbera DP world Investment. We all know that when the oil is dug you dhulos will all become hardcore Landers

 

[Wir]

There are basically three phases of oil production:

Pre-drilling activities (upstream)
Drilling (upstream)
Production (midstream and downstream)

Depending on the depth of drilling required and the type of drilling method used, a standard oil well can commonly advance from drilling to the beginning of production for an oil company within one to three months. However, drilling to production is only the last phase of work for an oil producer. The preceding steps take a substantially longer time period and involve major capital expenditures.

The longest and typically most expensive phase is pre-drilling activities – all the things that an oil producer must do before even thinking about doing the actual well drilling. They include doing the necessary seismological surveys to locate a promising drilling site, obtaining land and sometimes separate mineral rights, getting required permits and regulatory approvals, creating infrastructure.

SL & Genel timeline

In August 2012, Genel was awarded an exploration licence for onshore blocks SL-10-B and SL-13 in Somaliland.

Interpretation of the 2018 2D seismic data together with continued basin analysis has led to the maturation of prospects and leads inventory for the SL10B13 block

Once these prospects and leads have been quantified in terms of volumetric potential and associated geological risk the Company will initiate a farm-out campaign, commencing late Q3 2019.

In December 2021 Genel announced the signing of a farm-out agreement relating to the SL10B13 block with OPIC Somaliland Corporation (‘OSC’), with all its share of future capital investment coming from CPC Corporation, Taiwan, the state-owned enterprise of Taiwan.

The field partners will now work together to plan exploration drilling in this block, with an aim of drilling a well in 2023. It is currently estimated that a well can be drilled for a gross cost of c.$40 million.

Enter CPC

Over the past 40 years, CPC has participated in global exploration as well as mergers and acquisitions. In recent years, it has achieved brilliant accomplishments in Africa, Australia, South America, and Southeast Asia, all of which increased Taiwan’s ability to maintain national energy security.

CPC Corp signs a deal to explore oil area in Somaliland - Taipei Times

Bringing Taiwan to the World and the World to Taiwan

www.taipeitimes.com

The state-run refiner declined to disclose financial terms, but CPC spokesman Chang Ray-chung said that this is the biggest oilfield exploration deal it has been part of in terms of prospective resources.

Sidenote

CPC Corporation was a historic buyer of Iranian oil and received a sanctions waiver from the United States when they imposed sanctions on Iranian oil imports. Despite receiving a sanctions waver CPC Corporation chose to end its use of Iran as a source country.

This is a good summary mate. We passed the longest hardest time which was the pre-drilling. This took 10 years. Now that commercial oil was found we will drill and get rich

 

[IPushFatKids]

Iraqi Kurdistan receives budget from baqdad , so it's Oki to share a percentage of it's revenue. Unlike Somaliland Iraqi Kurdistan considers itself as part of iraq . Somaliland share nothing with Somalia. TFG have zero leverage over Somaliland , especially if Taiwan is the main recipient of Somaliland oil. Genel came to Somaliland before the existence of Mogadishu administration and it has zero contacts with xamar .

you are delusional if you think FGS won’t receive royalties in the event production ever takes place. You can huff and buff but we’ll soon find out! I can almost guarantee the oil company and FGS already have agreements in place.

Somaliland may think it’s a sovereign country but no other country or international court does. Any multinational company that is involved will be taken to court and it’s an open and shut case. Here is another the key thing the makes all the difference: the oil company operating in Somaliland is a private company and not a state owned company, it can’t just skirt the law without backing of a state.

 

[Awbarkhadle]

That famous gabay ‘alayleh isaaq ba mulkiyay maaxdi caynabe’ will be doing the rounds

 

[Yuusuf the great]

you are delusional if you think FGS won’t receive royalties in the event production ever takes place. You can huff and buff but we’ll soon find out! I can almost guarantee the oil company and FGS already have agreements in place.

Somaliland may think it’s a sovereign country but no other country or international court does. Any multinational company that is involved will be taken to court and it’s an open and shut case. Here is another the key thing the makes all the difference: the oil company operating in Somaliland is a private company and not a state owned company, it can’t just skirt the law without backing of a state.

How much royalties do you receive from DP World. You passed a whole law to ban that company and it's still operating. Even ciraaq has leverage over Kurdistan , because they took over Kirkuk . But Zoamalia is paralyzed it can't make any military movies. I bet the qadaadweyns Will rather accuse each an other as usual . Farmaja saxeexay , Mayee xaliimo yar baa saxeexatay . Alla mayee xalwaystuu ahaa. I like how you guys entertain your self .

 

[IPushFatKids]

How much royalties do you receive from DP World. You passed a whole law to ban that company and it's still operating. Even ciraaq has leverage over Kurdistan , because they took over Kirkuk . But Zoamalia is paralyzed it can't make any military movies. I bet the qadaadweyns Will rather accuse each an other as usual . Farmaja saxeexay , Mayee xaliimo yar baa saxeexatay . Alla mayee xalwaystuu ahaa. I like how you guys entertain your self .

DP Ports is an infrastructure project. How is FGS supposed to get royalties on infrastructure projects? BTW UK ambassador to Somalia (katie something?) already mentioned they had discussions with the FGS about the Berbera and aren't no longer opposed to it, this was before they invested in the project.

>Even ciraaq has leverage over Kurdistan , because they took over Kirkuk

You as usual, are full of shit. They couldn't even get near Kirkuk when Kurdistan declared independence by referendum back in 2017, they only occupied 1/3 of the outskirts of Kurdistan and most they could do was dispatch a few planes and have a no fly zone for a few days.

You keep gloating about the how the FGS "has no leverage" and comparing it to Iraq which has a government with a 90bn budget. Somali government is barely 10 years old. Somaliland government is 30+ years old Every year from now on capacity of FGS will increase exponentially.

 

[Yuusuf the great]

DP Ports is an infrastructure project. How is FGS supposed to get royalties on infrastructure projects? BTW UK ambassador to Somalia (katie something?) already mentioned they had discussions with the FGS about the Berbera and aren't no longer opposed to it, this was before they invested in the project.

>Even ciraaq has leverage over Kurdistan , because they took over Kirkuk

You as usual, are full of shit. They couldn't even get near Kirkuk when Kurdistan declared independence by referendum back in 2017, they only occupied 1/3 of the outskirts of Kurdistan and most they could do was dispatch a few planes and have a no fly zone for a few days.

You keep gloating about the how the FGS "has no leverage" and comparing it to Iraq which has a government with a 90bn budget. Somali government is barely 10 years old. Somaliland government is 30+ years old Every year from now on capacity of FGS will increase exponentially.

Let's agree that somalia don't have anything to use as a bargaining chip , no MONEY , No POWER , NO RESPECT . You don't even have any geopolitical advantage over Somaliland. The capacity of your administration did not increase one level , you president is still protected by Ugandan troops in his capital inside villa wardhiigley. And each of your regional state governments are also protected by foreign troops. May be only puntland is barely functioning without foreign militaries.

 

[IPushFatKids]

Let's agree that somalia don't have anything to use as a bargaining chip , no MONEY , No POWER , NO RESPECT . You don't even have any geopolitical advantage over Somaliland. The capacity of your administration did not increase one level , you president is still protected by Ugandan troops in his capital inside villa wardhiigley. And each of your regional state governments are also protected by foreign troops. May be only puntland is barely functioning without foreign militaries.

al shabab was literally occupying Mogadishu in late 09. Look at Mogadishu today a little over 10 yrs. and you say capacity has not increased one level?

Somaliland has already maxed out on its economic potential. There’s hardly much else opportunities left for growth save an oil miracle.

 

[Yuusuf the great]

al shabab was literally occupying Mogadishu in late 09. Look at Mogadishu today a little over 10 yrs. and you say capacity has not increased one level?

Somaliland has already maxed out on its economic potential. There’s hardly much else opportunities left for growth save an oil miracle.

Alshabaab is in control of muuqdisho surroundings . Your whole administration uses the UN or AMISOM small planes to visit from one town to the other . all Somalia cities are under curfew by alshabaab , you can't drive beyond 20 KMs of any Somalia major town without dealing with the alshabaab authority. If AMISOM leaves alshabaab can take over villa wardhiigley in hours.

Somaliland has better future than Somalia for the next 50 years at least. You can wish what you want , if wishes were horse beggars would ride. We have both the natural resources and human resources to thrive . There is nothing we lack compare to the others .